Best Of

Refineries scale up by using more of their capacity. Longer hours, larger heats, shorter idle times. Then they identify choke points and address those with capital improvements on a real time basis. I believe most are already well into this process already.

Obvious severe damage.

So as a non-dealer who is paying $2400 for a roll of silver eagles from eBay sellers? Anyone buying at that price? A Monster box would be $50K+.

@Rule556
Congrats on finishing your 20th century set

@jmlanzaf said:
You might want to check the definition of "Cherrypick". It has "profit" right in it.

A dealer once told me the reason he didn't like cherrypickers going through his stuff is because he could have the exact coin they're looking for in his case but they wouldn't buy it because they didn't want to pay retail for it.

@Veep said:
“he told me his silver refiner was imposing the discount on him so he had to pass it off dollar-for-dollar. I understood“

This is the crux of the whole issue. In addition, whatever that “dollar” is might change. It’s a moving target. Also, the refiner might stop buying at all. They are protecting themselves and that risk protection rolls right down the line. It’s up to each buyer to determine what the risk is worth to him.

Upstate is buying 90% at -$8 as of Friday. That means most shops, unless they have immediate customers of their own, will be lower than that.